Somfy / Sales for the first six months of the 2013 financial year

PR Newswire/Les Echos/ Press release 23 July 2013 Sales for the first six months of the 2013 financial year Consolidated sales 2013 2012 % change in % change on (EUR millions) real terms a like-for-like basis First quarter 227.0 236.3 -4.0% -0.5% Second quarter 279.9 277.6 +0.8% +2.9% First half-year 506.9 513.9 -1.4% +1.3% Note: Cotherm was excluded from the scope of consolidation in October 2012 and Giga was included in April 2013. Their respective sales have been excluded from changes on a like-for-like basis. Group sales were EUR 506.9 million(1) for the first six months of the financial year. This was a decline of 1.4% in real terms and an increase of 1.3% on a like-for-like basis. This increase on a like-for-like basis shows a marked improvement in the second quarter, partly due to base effects, and mixed developments depending on division and geographic region. Somfy Activities Somfy Activities' contribution grew from EUR455.8 million to EUR467.0 million during the first half of the year. This figure includes sales of the recently acquired Brazilian company Giga. Divisional growth was 2.1% on a like-for-like basis, a decline of 0.1% in the first quarter and an increase of 4.0% in the second quarter. The trend remained clearly positive in Asia-Pacific and America (up 9.4% and 7.5%, respectively, on a like-for-like basis), as a result of expansion in China and India and a buoyant US market. Eastern and Central Europe, France and Germany proved resilient (up 3.4%, 1.4% and 0.7% respectively, on a like-for-like basis). (1) The difference between Group sales and the total of both Somfy Activities' and Somfy Participations' sales is due to intra)group sales between Somfy Activities and Somfy Participations. Southern Europe(2) reported moderate growth (up 0.6% on a like-for-like basis), despite continuing challenging situations in Spain, Greece and Italy. Conversely, Northern Europe's contribution fell 2.9% on a like-for-like basis, due to adverse weather conditions, especially in Benelux and the UK, which particularly impacted sales of motors and automation equipment for blinds. Somfy Participations Somfy Participations' contribution fell from EUR 59.7 million to EUR 41.5 million during the first six months (down 7.1% on a like-for-like basis, a decrease of 5.1% in the first quarter and 9.1% in the second quarter). This decline was attributable to Cotherm's exit from the consolidation scope, effective as of last October, and reduced business activity at the two fully-consolidated companies, Zurflüh-Feller and Sirem (down 5.2% and 11.9% respectively, on a like-for-like basis). Equity-accounted companies recorded mixed developments: Ciat declined by 8.5% on a like)for-like basis, while Gaviota-Simbac and Pellenc reported growth of 1.2% and 8.2%, respectively, on a like-for-like basis. Corporate profile The Somfy Group is structured as two separate branches: Somfy Activities is dedicated to the Group's core business of automated openings and closures in residential and commercial buildings; Somfy Participations is dedicated to investments and equity shareholdings in industrial companies operating in other business sectors. Contacts Somfy: Pierre Ribeiro - Tel: +33 4 50 40 48 49 / Jean-Michel Jaud - Tel: +33 4 50 96 70 65 Shan: François-Xavier Dupont - Tel: +33 1 44 50 58 74 Shareholders' agenda Publication of half-year results: 29 August 2013 after close of trading (press release and conference call) www.somfyfinance.com (2) Africa and the Middle East are included in Southern Europe. The content and accuracy of news releases published on this site and/or distributed by PR Newswire or its partners are the sole responsibility of the originating company or organisation. Whilst every effort is made to ensure the accuracy of our services, such releases are not actively monitored or reviewed by PR Newswire or its partners and under no circumstances shall PR Newswire or its partners be liable for any loss or damage resulting from the use of such information. All information should be checked prior to publication.